Financial Data and Key Metrics - Organic growth averaged approximately 13% per quarter, with Q1 2024 reaching 16.9%, the highest point [4] - Adjusted gross profit increased 17.3% over the trailing four quarters, with adjusted gross margin improving by 190 basis points to 21.4% [4] - Net debt increased to $74.9 million during Q1, but was down $2.5 million year-over-year, with a gross leverage ratio of 2.2x, improved from 2.0x last year [20] - Adjusted EBITDA for Q1 was $5.9 million, up 32.4% year-over-year [24] - Capital spending is expected to be around 2% to 2.5% of sales, slightly higher than historical levels due to growth platform investments [5] Business Segment Performance - Rail segment sales increased 29.4% organically, with total Rail segment revenues up 28.3% to $82.6 million [19][26] - Infrastructure Solutions segment revenue decreased by $9.4 million (18.4%), with 19.5% of the decline due to divestitures and product line exits [27] - Rail Products saw a 33% increase in revenue year-over-year, contributing $13 million, while Technology Services and Solutions (TS&S) grew by 100% [78][109] - Precast Concrete business within Infrastructure was down 13% year-over-year, largely due to adverse weather conditions [76] Market Performance - The UK construction market has stabilized and is showing modest signs of improvement after challenges in 2023 [6] - Demand for total track monitoring technology products has increased, with expectations for continued growth [6] - Government funding for road and bridge rehabilitation projects, along with recreational park spending, is driving demand in the Infrastructure segment [32] Strategic Direction and Industry Competition - The company has completed nine transactions over the past two and a half years, simplifying its business structure and improving profitability [59] - Focus remains on Rail Technologies and Precast Concrete for organic growth opportunities, with a disciplined capital allocation process [55][56] - The company is optimistic about long-term demand in infrastructure markets, supported by federal investment programs [82] Management Commentary on Operating Environment and Future Outlook - Management is cautiously optimistic about market conditions, with strong order activity and improved lead times [62][63] - The company reaffirmed its 2024 financial guidance and remains on track to achieve its 2025 goals [21][38] - Free cash flow guidance for 2024 is $12 million to $18 million, with expectations for stronger cash flow in 2025 [28][45] Other Important Information - The company repurchased 151,000 shares (1.4% of outstanding shares) at an average price of $17.89 per share under its stock repurchase program [5] - The sale of a property in Magnolia, Texas, generated $3.5 million in net proceeds, excluded from adjusted EBITDA [9] - The company is monitoring its potential inclusion in the Russell 2000 Index, with a market cap of $255 million as of the measurement date [31] Q&A Session Summary Question: Any changes to full-year guidance given the strong Q1 performance? - No changes to full-year guidance were made, as the company remains cautious about market conditions despite a strong start [86][62] Question: Impact of weather on Infrastructure segment sales and EBITDA? - Precast Concrete revenue was down 13% year-over-year, with the majority of the decline attributed to adverse weather conditions [76] Question: Drivers of Rail segment revenue growth? - Rail Products and TS&S were the main drivers, with TS&S benefiting from domestic rail safety business and recovery in the UK [97][109] Question: Capital allocation and M&A strategy? - The company is focusing on organic growth and small tuck-in acquisitions, with a potential dividend considered as free cash flow improves [45][56] Question: Backlog trends and expectations? - Backlog is expected to improve throughout the year, with shorter lead times and improved order fulfillment impacting current levels [57][63]

[PART I. Financial Information](index=4&type=section&id=PART%20I.%20Financial%20Information) [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) The company's Q1 2024 financial statements show a shift from net loss to net income, driven by sales growth and an asset sale gain, with increased assets and equity but negative operating cash flow [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2024, total assets increased to **$326.4 million** from **$313.2 million** at year-end 2023, driven by higher inventories and accounts receivable, while total liabilities rose to **$181.1 million** and stockholders' equity grew to **$145.3 million** | Balance Sheet Items (In thousands) | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Total Current Assets** | $182,984 | $167,990 | | **Total Assets** | $326,401 | $313,206 | | **Total Current Liabilities** | $84,181 | $95,306 | | **Long-Term Debt** | $77,926 | $55,171 | | **Total Liabilities** | $181,124 | $170,371 | | **Total Stockholders' Equity** | $145,277 | $142,835 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For Q1 2024, the company reported a net income of **$4.4 million** (**$0.40** per diluted share), a significant improvement from a **$2.2 million** net loss in Q1 2023, driven by a **7.6%** increase in net sales and a **$3.5 million** gain from other income | Income Statement Items (In thousands) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Total Net Sales** | $124,320 | $115,488 | | **Gross Profit** | $26,249 | $23,291 | | **Operating Profit** | $2,283 | $503 | | **Income (loss) before income taxes** | $4,694 | $(2,712) | | **Net Income (loss) attributable to L.B. Foster** | $4,436 | $(2,152) | | **Diluted EPS** | $0.40 | $(0.20) | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) In Q1 2024, net cash used in operating activities was **$21.9 million**, a sharp contrast to the **$6.9 million** provided in Q1 2023, primarily due to working capital changes, while investing activities provided **$1.2 million** and financing activities provided **$21.3 million** | Cash Flow Items (In thousands) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | **Net cash (used in) provided by operating activities** | $(21,864) | $6,932 | | **Net cash provided by investing activities** | $1,209 | $4,661 | | **Net cash provided by (used in) financing activities** | $21,298 | $(12,022) | | **Net increase (decrease) in cash** | $588 | $(243) | | **Cash and cash equivalents at end of period** | $3,148 | $2,639 | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail key accounting policies, including a segment reorganization, revenue breakdowns, goodwill, debt covenants, and contingent liabilities such as the UPRR settlement and environmental proceedings - Effective Q4 2023, the company reorganized from three reporting segments to two: **Rail, Technologies, and Services** ("Rail") and **Infrastructure Solutions** ("Infrastructure"), with historical data restated to conform to this new structure[20](index=20&type=chunk) - As of March 31, 2024, the company had approximately **$222.3 million** in remaining performance obligations (backlog), with about **10.5%** expected to extend beyond one year[33](index=33&type=chunk) - The company has an outstanding settlement obligation with Union Pacific Railroad (UPRR), with a final payment of **$8.0 million** expected in 2024[66](index=66&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the **7.6%** increase in Q1 2024 net sales to strong organic growth, partially offset by divestitures, leading to improved gross profit margin and a significant swing to net income, with solid liquidity | Key Performance Indicators | Q1 2024 | Q1 2023 | Change | | :--- | :--- | :--- | :--- | | **Net Sales** | $124.3M | $115.5M | +7.6% | | **Gross Profit Margin** | 21.1% | 20.2% | +90 bps | | **Operating Profit** | $2.3M | $0.5M | +$1.8M | | **Net Income (Loss)** | $4.4M | $(2.2)M | +$6.6M | | **Diluted EPS** | $0.40 | $(0.20) | +$0.60 | - The increase in net sales was driven by organic sales growth of **$19.5 million** (**16.9%**), partially offset by a **$10.6 million** (**9.2%**) reduction from the divestiture of the Ties and Chemtec businesses and the exit of the Bridge product line[81](index=81&type=chunk) - Other income of **$3.5 million** in Q1 2024 was primarily due to a gain on the sale of the company's former joint venture facility in Magnolia, Texas[85](index=85&type=chunk) [Results of Operations - Segment Analysis](index=22&type=section&id=Results%20of%20Operations%20-%20Segment%20Analysis) The Rail segment saw a significant **28.3%** increase in sales to **$82.6 million**, driving its operating profit up by **183.8%** to **$6.8 million**, while the Infrastructure Solutions segment's sales decreased by **18.4%** to **$41.7 million**, resulting in an increased operating loss of **$1.4 million** | Segment Performance (Q1 2024 vs Q1 2023) | Net Sales | % Change | Segment Operating Profit (Loss) | % Change | | :--- | :--- | :--- | :--- | :--- | | **Rail, Technologies, and Services** | $82.6M | +28.3% | $6.8M | +183.8% | | **Infrastructure Solutions** | $41.7M | -18.4% | $(1.4)M | -291.3% | - The Rail segment's sales growth was driven by higher organic sales of **$18.9 million** (**29.4%**), particularly in Rail Products and Technology Services and Solutions[89](index=89&type=chunk) - The Infrastructure segment's sales decline was primarily attributable to the divestiture of Chemtec and the Bridge product line exit, which together decreased sales by **$9.9 million**[93](index=93&type=chunk) [Liquidity and Capital Resources](index=23&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2024, the company had total available funding capacity of **$53.2 million**, consisting of **$3.1 million** in cash and **$50.1 million** available under its revolving credit facility, with net cash used in operating activities shifting to **$21.9 million** due to working capital needs | Available Funding Capacity (March 31, 2024) | Amount (In thousands) | | :--- | :--- | | Cash and cash equivalents | $3,148 | | Net availability under revolving credit facility | $50,071 | | **Total available funding capacity** | **$53,219** | - The change in operating cash flow was largely driven by accounts receivable, which was a use of cash of **$4.0 million** in Q1 2024 compared to a source of cash of **$26.2 million** in Q1 2023[102](index=102&type=chunk) [Backlog](index=25&type=section&id=Backlog) Total company backlog was **$222.3 million** as of March 31, 2024, a decrease from **$259.9 million** a year prior, attributed to **$12.1 million** from divested businesses and a discontinued product line, with the remainder related to the timing of large orders | Backlog by Segment (In thousands) | Mar 31, 2024 | Mar 31, 2023 | | :--- | :--- | :--- | | Rail, Technologies, and Services | $86,038 | $113,593 | | Infrastructure Solutions | $136,223 | $146,288 | | **Total backlog** | **$222,261** | **$259,881** | [Quantitative and Qualitative Disclosures about Market Risk](index=27&type=section&id=Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This item is not applicable as the company qualifies as a smaller reporting company - The company states that this item is not applicable to a smaller reporting company[119](index=119&type=chunk) [Controls and Procedures](index=27&type=section&id=Controls%20and%20Procedures) As of March 31, 2024, the CEO and CFO concluded that the company's disclosure controls and procedures were effective, with no material changes to internal control over financial reporting during Q1 2024 - Management, including the CEO and CFO, concluded that the Company's disclosure controls and procedures were effective as of March 31, 2024[120](index=120&type=chunk) - No changes occurred during the quarter ended March 31, 2024, that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[121](index=121&type=chunk) [PART II. Other Information](index=28&type=section&id=PART%20II.%20Other%20Information) [Legal Proceedings](index=28&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to various legal proceedings, notably its potential responsibility in the Portland Harbor Superfund Site cleanup, though management does not currently believe these matters will have a material adverse effect on financial condition - The company is identified as a potentially responsible party (PRP) for the Portland Harbor Superfund Site cleanup, with estimated total remedy costs of **$1.1 billion to $1.7 billion**, though the company's ultimate liability cannot be predicted at this time[68](index=68&type=chunk) - Management believes that the ultimate resolution of pending legal actions will not have a material adverse effect on the company's financial position or liquidity as of March 31, 2024[69](index=69&type=chunk) [Risk Factors](index=28&type=section&id=Item%201A.%20Risk%20Factors) This item is not applicable as the company qualifies as a smaller reporting company - The company states that this item is not applicable to a smaller reporting company[124](index=124&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=28&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2024, the company repurchased **51,217** shares at an average price of **$23.80** per share, with **16,555** shares purchased under the publicly announced program, leaving approximately **$12.3 million** available for future repurchases | Share Repurchases (Q1 2024) | Value | | :--- | :--- | | **Total shares purchased** | 51,217 | | **Average price paid per share** | $23.80 | | **Shares purchased under public plan** | 16,555 | | **Approx. value remaining under plan** | $12,303 thousand | - On March 3, 2023, the Board of Directors authorized a share repurchase program of up to **$15.0 million** of the Company's common shares, effective until February 2026[128](index=128&type=chunk) [Other Information](index=28&type=section&id=Item%205.%20Other%20Information) During the fiscal quarter ended March 31, 2024, none of the company's directors or officers adopted, modified, or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement - No directors or officers adopted, modified, or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during the first quarter of 2024[128](index=128&type=chunk) [Exhibits](index=29&type=section&id=Item%206.%20Exhibits) This section provides an index of the exhibits filed with the Form 10-Q, including CEO and CFO certifications and XBRL data files

[Q1 2024 Performance Overview](index=1&type=section&id=Q1%202024%20Performance%20Overview) [Key Financial Highlights](index=1&type=section&id=Key%20Financial%20Highlights) L.B. Foster reported strong Q1 2024 results with net sales up **7.6%** to **$124.3 million**, net income of **$4.4 million**, and **32.4%** adjusted EBITDA growth | Metric | Q1 2024 | YoY Change | | :--- | :--- | :--- | | Net Sales | $124.3M | +7.6% | | Organic Sales | - | +16.9% | | Gross Profit | $26.2M | +12.7% | | Gross Margin | 21.1% | +90 bps | | Net Income | $4.4M | +$6.6M | | Adjusted EBITDA | $5.9M | +32.4% | | New Orders | $132.4M | -5.1% | | Backlog | $222.3M | -14.5% | - Net debt decreased by **$2.5 million** year-over-year to **$74.9 million**, with the Gross Leverage Ratio improving to **2.2x**, down **0.2x** from the prior year's quarter[4](index=4&type=chunk) - The company reaffirmed its full-year 2024 guidance, expecting net sales between **$525.0 million** and **$560.0 million**, and adjusted EBITDA between **$34.0 million** and **$39.0 million**[4](index=4&type=chunk) [CEO Commentary](index=1&type=section&id=CEO%20Commentary) CEO John Kasel noted a strong start to 2024, driven by organic growth and profitability, with the Rail business rebounding and Infrastructure backlog growing - The Rail business rebounded in Q1, delivering **29.4%** organic sales growth and a **22.5%** gross margin, which was up **330 bps** sequentially from a sluggish Q4 2023[3](index=3&type=chunk) - The Infrastructure business saw flat organic sales due to adverse weather impacting the Precast Concrete business, but its backlog grew **17.0%** during the quarter, suggesting future volume increases[3](index=3&type=chunk) - Adjusted EBITDA of **$5.9 million** (up **32.4%** YoY) excludes a **$3.5 million** gain from the sale of an industrial property, the proceeds of which were used to pay down debt[3](index=3&type=chunk) - Order rates showed recovery, with organic orders up **3.0%** YoY. Sequentially, total orders increased **25.5%**, led by a **39.4%** increase in the Rail business[6](index=6&type=chunk) [2024 Full Year Financial Guidance](index=3&type=section&id=2024%20Full%20Year%20Financial%20Guidance) The company reaffirmed its 2024 full-year guidance, projecting net sales between **$525 million** and **$560 million** and adjusted EBITDA from **$34 million** to **$39 million** | 2024 Full Year Financial Guidance | Low | High | | :--- | :--- | :--- | | Net sales | $525.0M | $560.0M | | Adjusted EBITDA | $34.0M | $39.0M | | Free cash flow | $12.0M | $18.0M | | Capital spending (% of sales) | 2.0% | 2.5% | [Detailed Financial Results](index=3&type=section&id=Detailed%20Financial%20Results) [First Quarter Consolidated Results](index=3&type=section&id=First%20Quarter%20Consolidated%20Results) Q1 2024 consolidated net sales grew **7.6%** to **$124.3 million**, with gross profit up **12.7%** and net income reaching **$4.4 million** | Metric | Q1 2024 | Q1 2023 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $124.3M | $115.5M | +7.6% | | Gross Profit | $26.2M | $23.3M | +12.7% | | Operating Profit | $2.3M | $0.5M | +353.9% | | Net Income | $4.4M | ($2.2M) | +$6.6M | | Adjusted EBITDA | $5.9M | $4.5M | +32.4% | - Organic sales growth of **16.9%** was the primary driver of the top-line increase, while divestiture and product line exit activities created a **9.2%** headwind[8](index=8&type=chunk) - Net income improvement was driven by higher operating profit and **$3.5 million** in 'Other income - net' from a property sale, compared to a **$1.8 million** 'Other expense - net' in the prior year which included a loss on the sale of Chemtec[10](index=10&type=chunk) - Cash used by operating activities was **$21.9 million**, a significant increase from the **$6.9 million** provided in the prior year quarter, attributed to organic growth initiatives and higher seasonal working capital needs[10](index=10&type=chunk) [Segment Performance](index=4&type=section&id=Segment%20Performance) Q1 2024 segment performance diverged, with Rail, Technologies, and Services driving growth while Infrastructure Solutions declined due to divestitures [Rail, Technologies, and Services Segment](index=4&type=section&id=Rail,%20Technologies,%20and%20Services%20Segment) The Rail, Technologies, and Services segment achieved strong Q1 results with net sales up **28.3%** to **$82.6 million** and operating profit surging **183.8%** | Metric | Q1 2024 | Q1 2023 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $82.6M | $64.4M | +28.3% | | Gross Profit | $18.6M | $14.3M | +30.0% | | Gross Profit Margin | 22.5% | 22.2% | +30 bps | | Segment Operating Profit | $6.8M | $2.4M | +183.8% | | New Orders | $83.7M | $73.7M | +13.6% | - Organic sales growth of **29.4%** was driven by improvements in Rail Products and Technology Services and Solutions, partially offset by lower volumes in the Global Friction Management business[11](index=11&type=chunk) - New orders increased by **$10.0 million**, primarily from Rail Products and Global Friction Management. However, backlog decreased by **$27.6 million** YoY, mainly due to timing fluctuations in executing large Rail Products orders[13](index=13&type=chunk) [Infrastructure Solutions Segment](index=5&type=section&id=Infrastructure%20Solutions%20Segment) Infrastructure Solutions Q1 net sales decreased **18.4%** to **$41.7 million** due to divestitures, with operating loss widening to **$1.4 million** | Metric | Q1 2024 | Q1 2023 | Change | | :--- | :--- | :--- | :--- | | Net Sales | $41.7M | $51.1M | -18.4% | | Gross Profit | $7.7M | $9.0M | -14.8% | | Gross Profit Margin | 18.4% | 17.6% | +80 bps | | Segment Operating Loss | ($1.4M) | ($0.4M) | -291.3% | | New Orders | $48.6M | $65.8M | -26.1% | - The **18.4%** sales decline was driven by a **19.5%** impact from divestitures. Organic sales grew **1.0%**, with strong Steel Products sales offset by lower Precast Concrete volumes due to adverse weather[14](index=14&type=chunk) - Gross profit margins expanded by **80 basis points** to **18.4%**, primarily due to portfolio changes, despite a **$1.3 million** decrease in absolute gross profit[14](index=14&type=chunk) [Financial Statements](index=8&type=section&id=Financial%20Statements) [Condensed Consolidated Statements of Operations](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2024 income statement shows a turnaround with net income of **$4.4 million** ($0.40 diluted EPS) versus a prior year loss | (In thousands) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Total net sales | $124,320 | $115,488 | | Gross profit | $26,249 | $23,291 | | Operating profit | $2,283 | $503 | | Income (loss) before income taxes | $4,694 | ($2,712) | | Net income (loss) attributable to L.B. Foster | $4,436 | ($2,152) | | Diluted EPS | $0.40 | ($0.20) | [Condensed Consolidated Balance Sheets](index=9&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2024, total assets reached **$326.4 million**, driven by higher inventories and receivables, with total liabilities at **$181.1 million** | (In thousands) | Mar 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $3,148 | $2,560 | | Inventories - net | $85,761 | $73,496 | | Total current assets | $182,984 | $167,990 | | Total Assets | $326,401 | $313,206 | | **Liabilities & Equity** | | | | Total current liabilities | $84,181 | $95,306 | | Long-term debt | $77,926 | $55,171 | | Total L.B. Foster stockholders' equity | $144,601 | $142,111 | | Total Liabilities and Stockholders' Equity | $326,401 | $313,206 | [Non-GAAP Financial Measures and Reconciliations](index=10&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Reconciliations) [Explanation of Non-GAAP Measures](index=10&type=section&id=Explanation%20of%20Non-GAAP%20Measures) The company uses non-GAAP measures like adjusted EBITDA and organic sales growth to provide a clearer view of operational performance - Adjusted EBITDA excludes items the company believes are unusual, non-recurring, unpredictable, or non-cash. For Q1 2024, this included a gain on an asset sale. For Q1 2023, it included a loss on a divestiture[30](index=30&type=chunk)[31](index=31&type=chunk) - Organic sales growth is a non-GAAP measure that excludes the effects of divestiture and product line exit activities to provide a clearer view of underlying business trends[33](index=33&type=chunk) - Net debt, defined as total debt less cash and cash equivalents, is used as a key metric to assess the company's operational and financial health[32](index=32&type=chunk) [Reconciliation of Net Income to Adjusted EBITDA](index=10&type=section&id=Reconciliation%20of%20Net%20Income%20to%20Adjusted%20EBITDA) Q1 2024 net income of **$4.4 million** reconciled to an adjusted EBITDA of **$5.9 million**, a **32.4%** increase year-over-year | Reconciliation (In thousands) | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net income (loss), as reported | $4,405 | ($2,171) | | Interest, Taxes, D&A | +$4,805 | +$5,817 | | **Total EBITDA** | **$9,410** | **$2,546** | | Gain on asset sale | ($3,477) | — | | Loss on divestiture | — | $2,033 | | VanHooseCo contingent consideration | — | ($97) | | **Adjusted EBITDA** | **$5,933** | **$4,482** | [Reconciliation of Sales and Orders (Organic vs. Reported)](index=11&type=section&id=Reconciliation%20of%20Sales%20and%20Orders%20(Organic%20vs.%20Reported)) Q1 2024 reported net sales grew **7.6%**, but organic sales increased **16.9%**, while reported new orders decreased **5.1%** Consolidated Sales Change (YoY) | (In thousands) | Amount | Percent Change | | :--- | :--- | :--- | | 2023 Net Sales | $115,488 | - | | Decrease due to divestitures | ($10,642) | -9.2% | | Change due to organic sales | $19,474 | +16.9% | | **2024 Net Sales** | **$124,320** | **+7.6%** | Consolidated New Orders Change (YoY) | (In thousands) | Amount | Percent Change | | :--- | :--- | :--- | | 2023 New Orders | $139,515 | - | | Decrease due to divestitures | ($11,267) | -8.1% | | Change due to organic new orders | $4,137 | +3.0% | | **2024 New Orders** | **$132,385** | **-5.1%** | [Net Debt Reconciliation](index=11&type=section&id=Net%20Debt%20Reconciliation) Net debt was **$74.9 million** as of March 31, 2024, a sequential increase of **$22.2 million** but a year-over-year decrease of **$2.5 million** | (In thousands) | Mar 31, 2024 | Dec 31, 2023 | Mar 31, 2023 | | :--- | :--- | :--- | :--- | | Total debt | $78,085 | $55,273 | $80,096 | | Less: cash and cash equivalents | ($3,148) | ($2,560) | ($2,639) | | **Net debt** | **$74,937** | **$52,713** | **$77,457** |

PITTSBURGH, April 30, 2024 (GLOBE NEWSWIRE) -- L.B. Foster Company (NASDAQ:FSTR, the "Company"))), today announced that it will release its first quarter results, pre-market opening on Tuesday, May 7, 2024. L.B. Foster will host a conference call to discuss its operating results, market outlook, and developments in the business later that morning at 11:00 A.M. Eastern Time. A presentation will be available on the Company's website under the Investor Relations page immediately after the Company's earnings re ...

With all the turbulence in the stock market at this time, it’s imperative to consider theimpact of analyst downgrades to minimize risk.Following a momentous AI-powered rally in the past year or so, the market’s taking a breather. Moreover, with inflation coming in hot this month again, expect the stock market to shed more of its gains in the near term. Hence, with all the uncertainty, investors must consider price target cuts from Wall-Street. With that said, here are three stocks with analyst downgrades yo ...

L.B. Foster (FSTR) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Since a changing ea ...

PITTSBURGH, March 07, 2024 (GLOBE NEWSWIRE) -- L.B. Foster Company (NASDAQ:FSTR, the "Company"))), announced today that John Kasel, President and Chief Executive Officer, and Bill Thalman, Executive Vice President and Chief Financial Officer, will present virtually at the Sidoti Small Cap Virtual Conference on March 14, 2024 beginning at 12:15 PM EST. Presentation materials for the conference will be posted on the Company's Investor Relations website under "Presentations" the morning of the conference. A vi ...

PITTSBURGH, March 07, 2024 (GLOBE NEWSWIRE) -- L.B. Foster Company (NASDAQ: FSTR, the “Company”), announced today that John Kasel, President and Chief Executive Officer, and Bill Thalman, Executive Vice President and Chief Financial Officer, will present virtually at the Sidoti Small Cap Virtual Conference on March 14, 2024 beginning at 12:15 PM EST. Presentation materials for the conference will be posted on the Company’s Investor Relations website under “Presentations” the morning of the conference. A vid ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 Or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 0-10436 L.B. FOSTER COMPANY (Exact name of registrant as specified in its charter) Pennsylvania 25-1324733 (State of Incorporation) (I.R. ...

L.B. Foster Company (FSTR) logged fourth-quarter 2023 loss of 4 cents per share, narrower than the year-ago quarter's loss of $4.09 per share. The figure was wider than the Zacks Consensus Estimate of a loss of 3 cents.The company recorded revenues of $134.9 million for the quarter, down around 2% year over year. It surpassed the Zacks Consensus Estimate of $127.7 million. Net sales rose 7.7% organically and fell 9.4% due to divestitures.New orders were $105.5 million in the reported quarter, down around 23 ...